Bharat Forge surges on inking pact with General Atomics
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Bharat Forge is currently trading at Rs. 789.40, up by 8.35 points or 1.07% from its previous closing of Rs. 781.05 on the BSE.
The scrip opened at Rs. 781.70 and has touched a high and low of Rs. 789.80 and Rs. 771.30 respectively. So far 8161 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 848.00 on 10-Nov-2021 and a 52 week low of Rs. 595.85 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 797.95 and Rs. 743.00 respectively. The current market cap of the company is Rs. 36490.51 crore.
The promoters holding in the company stood at 45.25%, while Institutions and Non-Institutions held 43.31% and 11.44% respectively.
Bharat Forge has inked an agreement with American technology major General Atomics for collaboration in developing Lithium-Ion battery system for use by the Indian Navy. Under the terms of the Memorandum of Understanding (MoU), Bharat Forge and General Atomics' Electromagnetic Systems Group (GA-EMS) will collaborate for Lithium-Ion battery system for naval platforms for the Indian Navy. The two sides have also agreed to partner in the area of permanent magnet motors.
Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.
